South Africa’s Standard Bank Faces Security Breach as Customers Report Fraud and Missing Funds

South Africa’s Standard Bank customers have taken to social media to report massive security breaches, including fraudulent transactions and missing funds. Many clients are unable to block their cards via the app and are frustrated by long call center queues and an unreachable fraud hotline. The cause of the breach is still unclear. This incident follows multiple system outages in recent years, which have led to leadership changes aimed at improving IT stability and operations.